Statistics Canada will release its February consumer price index report on Tuesday morning.
Economists anticipate that the inflation rate will go above three percent again after slowing to 2.9 percent in January.
The general agreement among forecasters is that prices increased by 3.1 percent last month compared to a year ago, undoing some of the progress made in January.
The central bank has kept its main interest rate at five percent since the summer, the highest level since 2001.
Governor Tiff Macklem has indicated that the Bank of Canada's next move is likely to be a rate cut, as long as inflation continues to cooperate.
An increase in inflation will make things slightly more complicated for the Bank of Canada, but it is still widely expected to start reducing its main interest rate around the middle of the year.
